Home improvement purposes

Loans can be used for home improvement purposes, or a combination of home improvements and non-home improvements, up to 90% LTV only, unless the client has a mortgaged second property, then the maximum LTV is 85%.

Non-home improvement purposes

Loans can be used for non-home improvement purposes, or a combination of home improvements and non-home improvements, up to 90% LTV only, unless the client has a mortgaged second property, then the maximum LTV is 85%.

Subsequent additional borrowing is available via our direct channels only, customers should be directed to their nearest Nationwide branch, or Nationwide.co.uk. Subsequent additional borrowing applications cannot be accepted if less than 6 months have passed since the date of completion of the main loan, or if the mortgaged property is being let out.

To submit the case on NFI Online or MTE the LTV must be within maximum lending limits based on the current value.

Second property

Nationwide can consider lending for the following second property uses:

Holiday homes in the UK or abroad (where the property being purchased is abroad, the loan must be secured on a property in the UK).

Second homes due to work location (Pied a terre).

Accommodation for wholly dependent relatives.

A new main residence where the applicant wishes to let their existing property rather than sell it. For more information on the Let to Buy process with our subsidiary brand The Mortgage Works, visit our Buy to Let / Let to Buy page.

Capital raising against a main residence to purchase a 'buy to let' i.e. remortgage with additional borrowing, subsequent additional borrowing or raising capital against a mortgage free property.

Properties that will be wholly let from inception.

Properties occupied on lifetime tenancies and properties purchased or remortgaged from relative(s) with continuing occupancy may be unacceptable.

Properties that are only likely to be suitable as holiday homes.

Time Shares.

Mobile Homes.

Affordability figure needs to cover all mortgages that will be outstanding at the time of completion, please also see clients with additional properties.

Where your client has, or will have on completion, only one mortgaged property, standard LTV limits will apply. Maximum 85% LTV will continue to apply if the client will own two or more mortgaged properties on completion and will be treated as a Second Property application, even if the property being purchased or remortgaged will be your client’s main residence.

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